How to become a CapriCoin validator

15th March 2019

Capricoin is based on Proof-of-Stake protocol to achieve distributed consensus. The creator of next block or validator is chosen in a deterministic way depending on his/her wealth or stake meaning that their chance to validate transaction and get reward for their effort is thus proportional to the weight of their stake.

Proof-of-Stake protocol is eco-friendly kind of blockchain declining to waste energy needed to solve a computationally exacting math problem in order to create every new block of the blockchain the way bitcoin blockchain operates. Bitcoin transactions consumes as much electricity as Ireland and that is a serious problem. Since there is no mining process, creator of a new block cannot be rewarded, instead the transaction fees are set the way that block creators can profit from their work. Moreover, the PoS protocols are more scalable, they are usually faster and

Staking involves depositing certain number of coins into the blockchain, locking it and using it as a collateral to validate block. It is like to hold an escrow account. Staking rewards are usually between 1-8% of the total amount of coins held in user’s wallet. Capricoin fees belongs among the cheapest on the market.

Capricoin is designed to be the most versatile cryptocurrency for the broadest possible use. It acts as a multi-functional digital asset and is ultimately designed as a business model for several popular business platforms. Its strength lies in its scalability through APIs. It is easily integrated by third parties and provides manifold services which are coverable by CPC transfers. The new CPC business model qualifies it as a cryptocurrency for the mainstream.

How to validate on CPC blockchain

CapriCoin blockchain is a fork of former BlackCoin PoS protocol and hence it inherits most of its features including the validation process. Users are supposed to obtain Bitcoin QT desktop wallet forked from BlackCoin reference wallet (here is the link: https://bitcointalk.org/index.php?topic=1129322.0) where he/she can enable staking. We strongly recommend to run it on PC, in which nothing else is operating (personal notebook is an ideal choice). Install the mentioned wallet there (here is the link for Mac OS, Windows or Linux operating systems: https://github.com/Capricoinofficial/Capricoin/releases) an let it run non-stop if possible. In Settings section you can set all necessary parameters. It is important to set wallet “unlocked”. It is possible that after staking launch the service will run after several hours, however not longer than 24 hours.

CPC Validator

Capricoin offers also the so-called CPC Validator, which is a single-purpose device used to validate transactions on the Capricoin blockchain. To put it simply, it is a computer with the installed CPC hardware wallet synchronizes with the network and stakes the CPC and receives staking rewards. Due to the fact that this device serves this single purpose exclusively, it is the most secure form of storing CPC funds. Simultaneously, this is a highly reliable device making it the first choice when selecting a staking system for validating transactions and gaining staking rewards.

The CPC Validator is intended for all holders of larger amounts of CPC who are interested in actively supporting the strong Capricoin network.

After submitting the pop-up pre-order form on capricoin.org, you will receive more detailed information about the Validator's availability and price.

How to set CPC Validator

1. Submit your email address in the CPC Validator form which can be found on capricoin.org

2. You will receive an email containing the price and related documents for a payment in BTC.

3. Once the payment is credited, we will ship the device prepared for installation by regular mail.

4. After the delivery of the device, you can start installing it according to instructions (IT skills are required as this is an installation of a hardware wallet into Linux) or you can agree on an appointment with our support for an assisted installation.

5. The assisted installation takes place on Skype during which our IT specialist instructs you step by step to make the installation successful.